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Gold/Mining/Energy : Aurcana Corporation - AUN.V

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Apr 19 5:00 PM EST

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From: E_K_S	1/12/2019 9:54:27 AM
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Article discusses Ouray Mine Canadian company negotiating takeover of Ouray Silver Mines Revenue-Virginius Mine revenues will support restart of Texas mine By Tanya Ishikawa, Planet Contributor Aug 1, 2018 A feasibility study completed in 2017 estimated mine restart costs at $36.8 million. The study showed that the mine could extract approximately 92,000 tons of ore a year, averaging 2.25 million ounces of silver plus gold, lead and zinc per year. The sale of those minerals is calculated to earn $26.5 million a year, paying back the investors within two years and making a profit for an additional five years. The study showed that the mine has more than 522,000 tons of proven and probable ore containing over 14.2 million ounces of silver, 33,000 ounces of gold, 57 million pounds of lead and 24.7 million pounds of zinc. ----------------------------------------------------------------- Looks like useful life of mine is 5.5 years based on feasibility study. FWIW, lots of safety violations 4 years ago- 3rd management company now operating facility

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